Winthrop, Maine Property Taxes
The median property tax rate in Winthrop, ME is 2.18%, considerably higher than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Winthrop at $165,900, the typical annual property tax bill reaches $3,614, exceeding the national median of $2,690. Property taxes in this area are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Winthrop's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Winthrop or another part of Kennebec County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Winthrop, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Winthrop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winthrop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winthrop to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Winthrop, Maine
Property taxes in Winthrop, ME, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winthrop is 1.40%, higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Winthrop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winthrop estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Winthrop's effective property tax rate to other counties in Maine and the national median. For comparison, the 04364 zip code has the highest median property tax rate of 1.40%, while the 04364 zip code has the lowest median tax rate of 1.40%. Understanding how these cities compare with Winthrop provides valuable insights into the varying tax landscape across Kennebec County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winthrop Tax Rate
2.18%
Average Kennebec County Tax Rate
1.72%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winthrop, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04364 | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Winthrop, Maine
In Winthrop, Maine, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Winthrop, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Winthrop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 04364, with a median tax bill of $3,614.
Average Winthrop Assessed Value
$165,900
Average Kennebec County Assessed Value
$154,165
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winthrop, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04364 | $72,940 | $122,700 | $165,900 | $235,600 | $310,800 |
Source: Ownwell
Property Tax Bills Across Winthrop, Maine
In Winthrop, located in Kennebec County, ME, property tax bills are calculated based on the assessed value of a property. This assessed value is determined by local assessors who evaluate various factors, such as the property's size, location, and overall condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Winthrop, the median home price is $165,900. Property tax bills can vary significantly, with the 25th percentile paying around $2,671 and the 75th percentile facing bills up to $5,119. At the higher end, the 90th percentile can see tax bills reaching $6,739. These figures highlight the range of property tax burdens that homeowners might experience, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Winthrop homeowners may find their tax bills relatively high, impacting their overall housing costs. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Winthrop Tax Bill
$3,614
Average Kennebec County Tax Bill
$2,685
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Winthrop, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04364 | $1,591 | $2,671 | $3,614 | $5,119 | $6,739 |
Source: Ownwell